ICI and ICI Global Webinar on How U.S. and EU Sanctions Impact Funds and Asset Managers
On August 7, 2012, the Investment Company Institute and ICI Global jointly hosted a webinar on economic and trade sanctions in the United States and the European Union and how these sanctions regimes impact funds and asset managers.
The webinar focused on:
- How sanctions programs administered by the U.S. Treasury's Office of Foreign Assets Control (OFAC) apply to registered funds and asset managers, and the consequences of noncompliance
- An introduction to the economic and trade sanctions (or restrictive measures) implemented by EU Member States pursuant to EU Council decisions and EU sanctions regulations
- The challenges of complying with both U.S. and EU sanctions requirements, particularly when operating a global asset management business
- Recent enforcement actions and proceedings of interest to the financial services industry
- Thomas C. Bogle, Partner, Financial Services and Investment Management, Dechert LLP
- Miriam Gonzalez, Partner, Trade and EU Government Affairs, Dechert LLP
- John Forrest, Director, Trade and EU Government Affairs, Dechert LLP
- Eva M. Mykolenko, Associate Counsel, International Affairs, Investment Company Institute
This webinar was the first of a two-part series on economic and trade sanctions. On September 27, ICI and ICI Global will host a webinar titled "OFAC Compliance: A Deeper Dive from the Regulator's Perspective," featuring Adam J. Szubin, Director of the Office of Foreign Assets Control, and representatives from OFAC's compliance staff.